Disney plans to launch a combined Disney+ and Hulu streaming app in late 2023, according to CEO Bob Iger.
The company will still offer standalone options for Disney+, Hulu, and ESPN+, but combining services will provide a "one-app experience" for bundle subscribers, he said.
- The combined platform offers greater "advertising potential," Iger said during Disney’s earnings call on Wednesday.
- The hope is that the combined app will attract new subscribers and win back old ones, as Disney+ lost 4 million subscribers in Q1 of 2023.
- Iger said the company plans to hike the price of the ad-free version of Disney+;again, but he did not specify when.
- The CEO also hinted at "constructive" talks with Comcast, which owns 33% of Hulu, suggesting that Disney could pursue a buyout of its stake in 2024.
- Despite a 26% decrease in operating losses for its streaming business, Disney posted a $659M loss in the last quarter and is under pressure to increase earnings in the second half of its financial year.